Barbados' government is gearing up to modernize its land transaction procedures to facilitate easier property purchases and enhance the country's competitiveness, Prime Minister Mia Mottley announced. Speaking at a colloquium hosted by the Ministry of Housing, Lands, and Maintenance at the Lloyd Erskine Sandiford Centre, Mottley criticized the current system as outdated and obstructive to economic growth,...
Barbados has secured the 77th spot among 133 economies in the Global Innovation Index (GII) 2024, marking its return to the index after an eight-year absence. The GII, jointly published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO), annually assesses countries' innovation capabilities and performances. It evaluates various factors crucial to innovation,...
The World Bank forecasts that Barbados will achieve a 3.9% economic growth rate this year, followed by a projected 2.8% in 2025. These predictions are part of the World Bank's economic review, Taxing Wealth for Equity and Growth, released on Wednesday. The report also anticipates Barbados' economy to grow by an additional 2.3% in 2026. The analysis further reveals that economic growth across Latin...
Nestled just steps away from the tranquil sands of Gibbes Beach, Callidora Barbados offers an unparalleled blend of luxury, relaxation, and investment opportunity. Whether you're looking to own a second home, secure a high-end rental property, or apply for permanent residency in the Caribbean, buying a villa at Callidora is a seamless process for both nationals and international buyers. In this...
Barbados is set to host the 2024 Caribbean Hotel Investment Conference & Operations Summit (CHICOS) from November 13–15 at the Wyndham Grand Barbados Sam Lord’s Castle All-Inclusive Resort. This prestigious event is expected to boost the local hotel industry and stimulate economic growth. “We are thrilled to partner with the Barbados government and Wyndham Hotels & Resorts for CHICOS’...
From April to July 2024, the Central Bank of Barbados (CBB) engaged in in-depth discussions with local financial institutions, the World Bank, and other key stakeholders to assess and enhance the country's payments infrastructure. These talks focused on reviewing the current legal and regulatory framework, with an emphasis on improving Barbados' Real-Time Payments (RTP) system. As part of this effort,...
In a moment of celebration and recognition for entrepreneurial excellence, TMT Transport Services, owned by Andrew Fitzpatrick, was honored with the prestigious Small Business of the Year Award at the annual Small Business Association (SBA) Awards. This accolade not only underscores the company’s innovative approach to moving services but also showcases the vibrant investment landscape in...
Barbados has launched the Bridgetown Initiative 3.0, a comprehensive strategy aimed at transforming the global financial system to better serve climate-vulnerable nations. The initiative seeks to generate $1 trillion in new funding, largely through taxing major carbon emitters and the super-wealthy, to combat the pressing challenges of climate change, debt, and inequality. Announced on September 27,...
The Caribbean is experiencing a robust revival in tourism, with Barbados emerging as a key leader alongside Cuba, Puerto Rico, Jamaica, and St. Lucia. These islands are revitalizing the region’s appeal through a mix of rising hotel occupancy rates, new airline routes, and a booming cruise industry, positioning the Caribbean as one of the world’s most sought-after destinations in 2024. Barbados: The...
Barbados is embracing the challenge of boosting population growth as a vital step towards securing its economic future and attracting new investments. Senator Chad Blackman, Minister of Economic Affairs, highlighted the country’s potential during the National Transfer Accounts Capacity Building Workshop, hosted by the Government of Barbados, the United Nations Population Fund (UNFPA), and the United...